Barrington Research Has Negative Outlook of CCO Q4 Earnings

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Stock analysts at Barrington Research cut their Q4 2024 EPS estimates for shares of Clear Channel Outdoor in a research note issued to investors on Friday, January 24th. Barrington Research analyst P. Sholl now anticipates that the business services provider will earn $0.01 per share for the quarter, down from their prior estimate of $0.04. Barrington Research currently has a “Outperform” rating and a $2.50 target price on the stock. The consensus estimate for Clear Channel Outdoor’s current full-year earnings is ($0.30) per share.

Separately, TD Cowen reduced their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Clear Channel Outdoor has an average rating of “Hold” and a consensus price target of $2.16.

Clear Channel Outdoor Price Performance

NYSE CCO opened at $1.43 on Monday. The stock has a market capitalization of $696.94 million, a P/E ratio of -4.91 and a beta of 3.04. Clear Channel Outdoor has a one year low of $1.29 and a one year high of $2.06. The business has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $1.53.

Insider Transactions at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the purchase, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This trade represents a 0.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.53% of the company’s stock.

Institutional Trading of Clear Channel Outdoor

A number of large investors have recently modified their holdings of CCO. Millennium Management LLC increased its holdings in shares of Clear Channel Outdoor by 44.0% in the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock worth $10,339,000 after buying an additional 2,242,205 shares during the period. Cerity Partners LLC bought a new stake in Clear Channel Outdoor during the third quarter worth about $1,730,000. Marshall Wace LLP bought a new stake in Clear Channel Outdoor in the second quarter worth $671,000. Squarepoint Ops LLC purchased a new stake in Clear Channel Outdoor during the 2nd quarter valued at about $617,000. Finally, Jane Street Group LLC raised its holdings in Clear Channel Outdoor by 56.7% in the 3rd quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock worth $1,787,000 after acquiring an additional 404,082 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.